Readystate Asset Management LP Buys 15,924 Shares of Comcast Corporation $CMCSA

Readystate Asset Management LP increased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 94.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,775 shares of the cable giant’s stock after acquiring an additional 15,924 shares during the quarter. Readystate Asset Management LP’s holdings in Comcast were worth $1,030,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CMCSA. Vanguard Group Inc. lifted its holdings in Comcast by 0.3% during the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares in the last quarter. State Street Corp raised its position in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares during the period. Dodge & Cox lifted its holdings in shares of Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new position in shares of Comcast in the 2nd quarter valued at approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after purchasing an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

CMCSA has been the subject of several research analyst reports. Oppenheimer set a $38.00 price target on shares of Comcast in a report on Tuesday, November 4th. Royal Bank Of Canada cut their price objective on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Daiwa Securities Group reduced their price objective on Comcast from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Ten analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.90.

Insider Transactions at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.32% of the company’s stock.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $31.60 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $29.55 and a 200-day moving average of $30.07. The stock has a market capitalization of $113.69 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 2.46 and a beta of 0.81. Comcast Corporation has a fifty-two week low of $25.75 and a fifty-two week high of $37.97.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, April 1st. Comcast’s payout ratio is presently 24.58%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.